PACCAR (NASDAQ:PCAR) Downgraded by UBS Group to Neutral

PACCAR (NASDAQ:PCAR) was downgraded by investment analysts at UBS Group from a “buy” rating to a “neutral” rating in a report released on Tuesday,Finviz reports. They currently have a $108.00 price target on the stock, down from their prior price target of $124.00. UBS Group’s price objective suggests a potential upside of 6.75% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Evercore ISI lowered their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price target on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Finally, Citigroup reduced their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $119.23.

PACCAR Price Performance

PACCAR stock opened at $101.17 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR has a 52 week low of $90.04 and a 52 week high of $125.50. The stock has a market capitalization of $53.09 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The stock has a fifty day moving average of $107.05 and a 200-day moving average of $106.47.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, sell-side analysts expect that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by company insiders.

Institutional Trading of PACCAR

Institutional investors and hedge funds have recently modified their holdings of the business. Everence Capital Management Inc. purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $1,984,000. Cullen Frost Bankers Inc. increased its position in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after acquiring an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC increased its position in shares of PACCAR by 21.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after acquiring an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.